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Fourth, the agreement standardizes regulations, labor standards, and environmental protections. Fewer regulations act like a subsidy. It gives the country's exporters a competitive advantage over its foreign competitors. Fifth, they agree to not steal the other's innovative products. They adopt each other's copyright and intellectual property laws. b. International Commercial Terms (INCOTERMS) Incoterms (international commercial terms) are internationally accepted definitions and rules of interpretation for most common commercial terms. Essentially, they are the shorthand means of agreeing who is responsible for the costs and risks associated with the international sale of goods. With one simple three worded acronym, you can confirm when risk in goods passes from the supplier to the recipient and who is responsible for transporting, insuring and paying duties on goods. So if you’re in the business of selling goods online and you have a growing base of international customers, you should familiarise yourself with this new language.
S40045850 PAWIT HEMNGERNTRAKOOL c. Competition and Consumer Act (2010) The Competition and Consumer Act 2010 (the Act)—formerly known as the Trade Practices Act 1974—contains rules against anti-competitive conduct to ensure that there is fair and effective competition within Australia. The Act also contains consumer protection rules—known as the Australian Consumer Law (ACL)—which businesses must abide by in their dealings with consumers. d. Warsaw Convention Set up to prevent threats from the NATO Treaty Organization group especially when NATO accepted West Germany as a member in 1955, which could cause Germany to be armed and dangerous to the Soviet Union. And other Eastern European countries Therefore established the Warsaw Convention Which is an anti-democratic reaction to liberal countries, namely NATO, which has resulted in the fall of Eastern European countries in the power of the Soviet Union even more Because the Soviet army can claim that agreement to send the army And the military advisory board also enter those countries.e. World Trade Organisation determinations The purpose of the WTO is to ensure global trade commences smoothly, freely and predictably. The WTO creates and embodies the ground rules for global trade among member nations, offering a system for international commerce. The WTO aims to create economic peace and stability in the world through a multilateral system based on consenting member states (in 2017 there were 164 members) that have ratified the rules of the WTO in their individual countries as well. This means WTO rules become part of a country's domestic legal system. The rules, therefore, apply to local companies conducting business in the international arena.